Luxury Brands In The World Turn The Helm For The Chinese Rich

British businessmen look forward to the Beijing pound.

The increasing purchasing power of luxury goods by the rich in China has also been confirmed by more and more data.

A report released by the consultancy McKinsey in March predicted that Chinese consumers' spending on luxury goods will increase by 18% annually, and that will reach about US $27 billion by 2015, when China's market will exceed Japan's number one in the world.

In 2009, the figure was $10 billion.

Last November, data from Bain, a consultancy, showed that in 2009, 56% of Chinese luxury goods were consumed overseas.

British media said that this is because China has imposed high tariffs on luxury goods.

In the United Kingdom, the media call Chinese buyers' money "Beijing pound", which is modeled after the word "pound" to describe the wealth of Chinese people.

"Chinese rich people want to buy London!"

They exclaimed in the article.

The "Beijing pound" industry is not only a luxury consumer brand, but also includes real estate, automobiles, red wine, collectibles and so on.

According to the latest data, mainland Chinese buyers are the most expensive people in the high-end real estate market in central London. By the end of February this year, the average cost of mainland Chinese buyers in high-end real estate reached 6 million 500 thousand pounds, more than Malaysia and Hongkong.

In France, Chinese buyers are also flocking to the red wine industry.

The reporter met several red wine purchasers from China in the hotel where he lived. One of them told reporters that they came to France to visit the Bordeaux red wine Chateau to buy one of them to supply the domestic market, because the red wine they bought back was sold too fast.

"Instead of spending time and energy looking for wineries, choosing wine everywhere is better than simply buying one to manage it. Money is not a problem."

At the end of last year, the Sotheby's auction house in Hongkong auctioned more than 240 bottles of Lafite winery, a four hour auction, and more than 240 bottles of wine sold for a high price of $8 million 400 thousand, more than 3 times the previous estimate.

"Every bottle of Lafite will be sold quickly," the buyer told reporters.

Fastest next year to win the world's first

Overseas consumption is in full swing, and domestic luxury consumption is equally impressive.

A report released shortly before the World Luxury Association showed that in 2010, the total value of luxury goods in China amounted to 10 billion 700 million dollars, accounting for 30% of the global luxury consumption market share.

Miss Lu told sales at a luxury jewelry store that only one of their stores has a turnover of 90 million yuan a year.

The report of the World Luxury Association believes that the time for China to replace Japan as the largest consumer market for luxury goods may be substantially ahead of 2012 due to Japan's earthquake and other factors.

In the face of the attractive Chinese market, more and more luxury brands are specifically targeting Chinese consumers to adjust their market strategies and product habits.

Fashion designer Mark Jacobs decided to open two new stores in China in 2012.

BURBERRY plans to expand its branches from 57 to 100 in 5 years.

LV group is also planning to enter more cities in China.

Now, not only can we see high-end brands in Shanghai, Beijing, but also in many provincial capitals, such as Hefei and Shijiazhuang, luxury stores have sprung up.

Hermes is the farthest way to go.

In September last year, the company launched a low price Chinese brand "up and down", integrating local design into furniture, tableware and clothing.

One of the best selling products is a silver bracelet priced at 3000 yuan.

Editor of a fashion magazine in China told British media that she was very upset about the increasing demand for luxury advertising.

Although this is a good thing for business expansion, it makes the readability of magazines worse and worse.

"Perhaps, we will soon use two magazines to achieve this goal."

"At present, less than 2% of China's people buy high-end brands," an industry insider said. "But in the next ten years, it will be the golden age of luxury in China."

British media quoted data that by 2020, Chinese luxury goods will exceed 44% of the world's total sales.

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Voice: luxury consumption needs to be supplemented by "culture class"

While recognizing the ability of Chinese to consume, Western media also commented that many Chinese consumers may just buy goods instead of buying "taste".

Many of them only prove their identity and achievements through famous brands.

Sabina, a French friend of the journalist, said, "in France, a LV can be carried back for many years, even to its children", but it is unthinkable for the Chinese who are fast spending luxury goods.

"Some consumers do not have enough taste to consume fashion. They buy luxury goods just because magazines or luxury websites tell them that it is worth buying," said Helen Wu, head of a fashion consumer in Hongkong.

British media also reported that more and more Chinese millionaires, "this part of the population is growing rapidly in the super rich group, is eager to show their identity, and enjoy a new consumption taste."

Many consumers of luxury goods are entrepreneurs and executives. They hope to prove their achievements through famous brand names, the report said.

In addition, some are "rich two generation", and some illegal or abnormal ways to become rich.

On the other hand, Chinese people also need to supplement "culture" for luxury consumption.

British media quoted a Chinese fashion magazine editor as saying that the magazine should have more "educational content" to introduce readers to the western culture behind these luxury brands, such as Marie Quinn, such as the Beatles, and why they played such an important role in that era. "If they are not introduced, they will be just a pile of clothes."